Ferrari’s First Electric Car Sells for Record N54 Billion at Auction, Sets New Milestone
- Ferrari's first electric car, the Luce, sold at RM Sotheby's in California for more than 35 times its standard retail price
- The charity sale came months after the Luce faced sharp criticism from senior Italian figures, including a deputy prime minister
- All proceeds from the record-breaking sale will go to the Ferrari Foundation's educational programmes
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Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
Ferrari's debut electric vehicle, the Luce, has sold for $40 million (£29.5 million) at a charity auction in California, setting a world record for the highest price ever paid for a new car sold at auction.
The sale, held at RM Sotheby's, saw the Luce fetch more than 35 times its standard retail price, according to BBC report.
The winning bidder was not identified by the auction house. All money raised from the sale will go towards educational programmes run by the Ferrari Foundation.
Source: UGC
The auctioned model is no ordinary Luce. It carries a distinctive white finish, special wheels, and customised brakes, making it a one-of-a-kind version of the production car.
RM Sotheby's described the vehicle as an "unbeatable opportunity" to own the very first production unit of the model and called the sale a "tangible expression of innovation, responsibility, and long-term vision for future generations."
A landmark launch that divided opinion
The Luce was unveiled in May 2026 and was widely regarded as one of the most significant car launches in recent years.
Designed by British iPhone designer Sir Jony Ive, the car marked Ferrari's entry into the electric vehicle market, a segment long dominated by Elon Musk's Tesla and Chinese manufacturers.
However, the reception was far from universally warm. Ferrari's share price fell the day after the launch, driven in part by high-profile criticism of the car's design and direction.
Italy's deputy prime minister Matteo Salvini was among those who pushed back, as was former Ferrari chairman Luca Cordero di Montezemolo, who warned that the car was "risking the destruction of a legend."
Ferrari's chief design officer Flavio Manzoni pushed back against the critics in an interview in May, saying that opposition is a natural part of the innovation process and that he was confident people would eventually come to appreciate the Luce.
Source: UGC
Previous auction records
The $40 million figure comfortably surpasses the previous record for a new car sold at auction. In 2025, a bespoke Ferrari Daytona SP3 supercar raised $26 million, also in aid of Ferrari's education initiatives, setting the benchmark at the time.
In 2023, a 1962 Ferrari 250 GTO sports car sold for $51.7 million in New York, United States of America, making it one of the second most expensive car ever sold at auction, according to Sotheby.
The all-time auction record across all car categories belongs to a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which sold for $142 million in 2022.
Burna Boy acquires Ferrari Purosangue
Meanwhile, Legit.ng earlier reported that Afrobeats superstar Burna Boy added a Ferrari Purosangue to his impressive collection of luxury cars.
Videos of the Grammy-nominated singer's new ride recently surfaced online, sparking conversations among netizens over its reported value.
Celebrity blogger Tunde Ednut also confirmed that the Ferrari had arrived in Nigeria, claiming that the high-end vehicle is worth about N1.8 billion.
Source: Legit.ng
